What do you do after you’ve clearly defined the KPI’s and benchmarks you need to hit in order to consider your business to be successful?
You may have read our previous post on getting started on the path to figuring out how you want to define your business success by nailing down KPIs and benchmarks. But what now? We have 5 next steps for what’s to come using Perfect Audience.
Ensuring you have a conversion set up properly in Perfect Audience is critical for executing a successful campaign. There are a few things to consider here. If your KPI is a certain CPA, then you can assign a Revenue Value to each conversion while setting up your goal using the process above.
You can assign a Revenue Value by going to Manage > Conversions > Editing a Conversion Goal.
If your KPI is ROI, you will want to pass your revenue back to us dynamically. When placing your site tracking tag on your website, make sure to include the “pa.revenue” portion. Perfect Audience will apply the appropriate revenue value to each conversion, and display the total in your dashboard. When you hover over the revenue value you can easily see the Post-Click and Post-View value’s broken out. You can quickly see your revenue at a glance and compare to the cost of the media.
Read more about calling in revenue dynamically here.
Another thing to consider when setting up your conversions is your attribution settings. You can set different conversion windows and attribution rates for CTC and VTC. These will be applied to your aCPA in the dashboard. Keep in mind that your aCPA accounts for your attribution settings. For example, if you choose to give 50% attribution to VTCs, we’ll reflect that in your numbers. You can also hover over the CPA to see the Post-Click CPA at a glance. This can be a helpful indicator of your percentage of Click to View conversions.
Utilizing the sort function can help prioritize high CPA campaigns with one touch. Just click on the column heading and it will sort from highest to lowest CPA. You can easily manage your budget by moving money to the campaigns with lower CPAs. In the example below the weekly budget is higher for the most efficient campaigns.
Once you have launched your campaign and gathered some data, you can refine your benchmark. If you set your KPI too high and you are not meeting your goal, you may need to optimize toward achieving those goals. If you are still not able to obtain the goal, you may need to consider whether or not you’ve set it too aggressively.
Always remember it is important to define your goals prior to launching a campaign.
If you have anything to add, please feel free to leave us a comment in the comments box below to keep the conversation going!
In today’s tech-savvy world, consumers are increasingly shifting their media time away from traditional channels such as television, print, and radio, towards the emerging digital channels of search, social, video, and mobile. Traditional brick-and-mortar businesses are seeing customers take to the web thanks to the convenience, selection, and price-transparency of ecommerce. Consequently, the battle for revenue is experiencing a seismic shift and marketers are increasingly allocating their investments towards these emerging digital channels.
The research firm eMarketer estimates that global B2C online sales grew 21 percent last year to $1.09 trillion, the first time sales have topped $1 trillion. The US ecommerce industry chipped in $365 billion and eMarketer expects that amount to grow to $409 billion in 2013. With the average sales per US consumer reaching $2,466 this year among those who purchase goods online, advertisers are seeking more efficient and effective ways to reach their audience.
Following suit, a new Strata survey found that nearly one-third of ad agencies expect to spend more on digital advertising than on traditional media within the next three years—indicating that digital media may eclipse traditional advertising in the near future.
“Focusing on revenue acquisition is an absolute necessity to thrive in today’s digital marketing landscape.” – Linda Harjono, Senior Manager of Search, Symantec
To win the battle for revenue, smart marketers are breaking away from their competition and overcoming the challenges of a highly complex and data-driven digital landscape with Revenue Acquisition Management (RAM)—an emerging category of technologies that enable advertisers to improve revenue outcomes and return on investments from digital advertising. RAM solutions allow marketers to manage digital advertising across multiple channels, publisher, geographies, languages, and devices; providing them with complete visibility and control over their programs and enabling them to optimize their digital advertising to meet desired revenue goals.
More than ever, digital advertisers are increasingly responsible for revenue outcomes. Marin Software commissioned a study by Forrester Consulting between September and December 2012 to examine the challenges and opportunities advertisers experience with their online advertising programs. The Forrester Consulting survey* found 83% of marketing respondents are already held accountable for revenue outcomes, and 79% say that driving revenue is a primary objective for their online initiatives.
However, without ample visibility into key performance metrics or integrated optimization tools, many online marketers encounter challenges when driving revenue outcomes. As a result, leveraging an advanced ad management platform can help advertisers scale complex programs, offload operational headaches, and improve program performance.
Revenue Acquisition Management (RAM) solutions allow marketers to manage the complexity of advertising across multiple channels, publishers, geographies, languages and devices. RAM platforms also provide advertisers complete visibility and control over their programs, and help them optimize campaigns to meet desired revenue goals.
“Revenue accountability for online advertisers is not a future state, it is happening now and marketers using revenue acquisition management platforms are better positioned to win the battle.” – David Pann, General Manager, Search Network, Microsoft Corp.
Find out why the ability to acquire revenue through digital channels is the strategic agenda for marketers.
*Revenue Outcomes Matter To Online Advertisers, a commissioned study conducted by Forrester Consulting on behalf of Marin Software, January 2013